Join me @ IBOtoolbox for free.
Brad Wheller
Member Since: 12/23/2011
performance / stats
Country: Canada
Likes Received: 1313
Featured Member: 0 times
Associates: 941
Wall Posts: 2293
Comments Made: 3090
Press Releases: 150
Videos: 6
profile visitor stats
TOTAL: 154618
are we ibo associates?
member advertising
active associates
Whitney Jacqueline       
Last logged on: 7/18/2018

Dennis Thorgesen    
Last logged on: 7/18/2018

Andrew Larder    
Last logged on: 7/18/2018

Skip Post    
Last logged on: 7/18/2018

Micky Gramlin     
Last logged on: 7/18/2018

Terri Pattio    
Last logged on: 7/18/2018

Zoran Simovic    
Last logged on: 7/18/2018

Lois Holmes    
Last logged on: 7/18/2018

Shelley Kuhn    
Last logged on: 7/18/2018

Rix Robinson    
Last logged on: 7/18/2018

Marty Misner    
Last logged on: 7/18/2018

Sandy Blomstrom    
Last logged on: 7/18/2018

Richard Burger     
Last logged on: 7/18/2018

Lonnie Glosup    
Last logged on: 7/18/2018

Mori Webster    
Last logged on: 7/18/2018

other ibo platforms
Brad Wheller   My Press Releases

What You Need to Know Before Using a New Credit Card

Published on 12/7/2014
For additional information  Click Here

What You Need to Know Before 
Using a New Credit Card

The holiday shopping season means you will likely receive many credit card offers online, in the mail or at the checkout of major retailers.  Accepting a credit card without understanding the terms can leave you paying huge fees and staggering interest rates. 

Closely examine “Introductory Interest Rates.” A “Low Introductory Interest Rate” is a great way to get consumers to use a card.  Introductory rates are temporary and may increase drastically in a short period of time, locking you into exorbitant payments that can bury you financially.

Review all variable interest rates and fees that apply to your account.  Your credit card company may charge fees and higher interest rates for cash advances, making a past due payment or going over your credit limit.  In addition to late fees and over limit fees, your credit card company may also charge annual fees, as well as fees for balance transfers, use of ATMs and other actions.  Know all of the potential fees and avoid them whenever possible.

Take note of when your payments are due and the penalty for late payment.  Make sure you understand the due date for your payments and the penalties and interest imposed for late payments.  They may be large, cumulative and disastrous for you.

Understand your payment options.  You may be able to pay online, by phone or by mail.  Some options may carry fees, while others do not.  Understand the options and only use the cards that do not impose a separate fee for making a payment.

Know your credit limit and stay below it at all times.  Your credit limit is the maximum debt you are authorized to carry on your credit card account.  Most credit card companies will let you exceed your credit limit, but many impose substantial fees for doing so.  These fees can accumulate quickly and can result in fee debt larger than your credit debt.  Additionally, exceeding your limit may be reported to credit agencies and substantially damage your credit score.

Check the fine print in your cardholder agreement.  Credit card companies know that virtually no cardholder reads the cardholder agreement.  It is always very long and printed in nearly unreadable small print.  When you accept the credit card you are bound by the cardholder agreement regardless of its length, print size or whether you read it.  For the sake of your financial health, take the time to read the cardholder agreement and understand all the obligations and penalties you are subject to BEFORE you accept the credit card. 

I hope you benefit from this post.
We have music for every age, skill level, and occasion!  Carol books, individual songs, we've got something for everyone.  Liven up the holidays with some live music. 
Member Note: To comment on this PR, simply click reply on the owners main post below.
-  Copyright 2016 IBOsocial  -            Part of the IBOtoolbox family of sites.